The Mark Moss Show Jan 19, 2022

of your week. Trying to bring you the latest information on what's happening now. UM. I try to bring you the education that you need to understand what's going on, and try to bring you the latest, greatest breaking news each and every weekend so you can stay up to date on the progress of of the market. And then I bring to you some of my friends to kind of give you some perspective, um and share with you what is going on now. One of the things I don't talk about a whole lot is the price. The

price of bitcoin. In my opinion, the price of bitcoin is one of the least interesting things about it. I mean, we're literally witnessing a brand new technology that's changing the world, and sharing looking at the price doesn't give you any of that information all It is just a basic number. But starting with the price, we can see that if you've been paying attention, we are down, meaning that bitcoin used to be worth more U S dollars than it is today. But that's not a bad thing. That's that's

that's a good thing in my opinion. Um, not that it's off of its high. That's not what the good thing is. It's where it's at today. So, like I said, I don't spend a lot of time talking about the price, and I'm not going to spend a lot of time talking about the price right now. But what I do like to do in regards to the price is I like to gain perspective on things, all right, And so if we want to gain some perspective on things, we can see that a year ago we were at about

thirty thousand dollars um. Just six months before that we were like ten thousands. Went from like ten thousand and thirty thousand a year ago. So, um, we're at forty about forty three thousand a day. We're at thirty thousand a year ago. Um, that's better than most other assets did over the last year. But we went from about thirty thousand, and then we did shoot up to a

high of UM. We got up to about forty two thousand in April UM and actually we got up to uh sixty five thousand, I should say actually in April, sorry, sixty five thousand UM, and then the market crashed and then the price came down and we sat for about seventy days in this range where bitcoin traded in this like thirty thousand dollar range. And so that's the key piece that I want to bring in. So we shot from like ten thousand two sixty five thousand. It was

amazing run. And then the price the price pulled all the way back to about thirty thousand and sat there for about two and a half months. And this is the key piece I want to draw your attention to. So we we kind of consolidated around the thirty thousand price and then it shot up again, and this time it passed the previous all time I six to sixty nine. And now it's pulled back and we're about forty three right now, So it's consolidating around the forty dollar price range.

And so what we're looking at is we pulled back and consolidated a floor around the thirty dollar price range. We shot higher and this time pulled back and we're consolidating around a forty dollar price floor. And so what you're looking at is you're looking at higher lows and so it's building support at those levels. So don't look at where it's off from the high, look at how much progress it's making off of the lows. So I

think that's the key piece there. Um But what I tell you each and every week and why I try to bring to you the latest breaking news, is that the price is one of the least interesting things. And the reason why is when you're looking at a new technology, the price isn't what's important. What's important when you're looking at new technology is two things. One the growth of the network, is the network growing or more people using it, are more options to use it growing. It's kind Metcalf's law.

The bigger the network gets, the more valuable it is. And the second thing is we're looking at is what is the development happening on the network? Is it growing, is it um it is evolving, etcetera. And so that's what that's what I try to focus on and I try to bring to you each and every week, and um Man, every week. There is a lot going on. So if you ignore the price and you look at the growth and the development on the network, you will start to see a completely different thing. The price will

get there, Okay, the price will get there. If you zoom out, have a long time perspective, the price is going to get there. But some of the big things that are happening, of course, one of the biggest news stories of two one, one that I was super excited for is that a country of El Salvador actually adopted bitcoin as legal tender. Now, a lot of people ask themselves, Um, you know, is the dollar going to die? Will the dollar lose the reserve currency status? What's the next reserve currency?

Will it be the Chinese Juan, will it be goal, Will we go back to gold, Will it be a CBDC, etcetera. Right, The problem is, I think, is they're they're looking, they're asking, or they're looking for a centralized answer. But the future is decentralized. And so what I mean by that is that my reserve asset is bitcoin for me, I don't care what yours is minus bitcoin For SMP five. Publicly traded companies like micro Strategy, their reserve asset is also

a bitcoin. Now it may not be true for every public trading company, and it's not, but it's true for them. And then we have countries like Al Savador who have also made it there is as well, and so the future is decentralized. Now. Um, you have the right, you have the freedom to choose what you want to be a reserve asset, and so you don't have to use bitcoin, you don't have to buy any But what I would tell you is that what you choose to store your wealth in matters. Now. The reason why I bring up

Al Savador is because it's game theory. Um. Game theory is kind of like the game of musical chairs if you remember playing that as a kid. Um, you walk around and round around to the music stops and hopefully you're one of the people that get to the chair. So the last person there loses. And so El Salvador was the first nation, and I'm President Bruckle of El Salvador.

He put out on Twitter. I think he said that he predicted, I forget two or three more countries would come to bitcoin this year in and here we go, here we go. So this week we saw a small nation. It's not a big one but doesn't matter a small the small nation of Tonga put together a bill through their parliament um that basically copied almost identically the El Salvador Bill to make bitcoin legal tender. There, so it's

another domino that's you know, ready to fall down. Um Lord Fusita, he's a member, former member of parliament for Tonga. Um he released this statement for bitcoin becoming legal tender, and Tonga, like I said, copying El Salvador's playbook, and they said that they could onboard more than one hundred thousand Tongans onto the bitcoin network. So you know it's not billions, like hundreds of millions, but still it's it's

another nation. You put together a kind of a five point plan um which is basically, you know, kind of all happening this year, goes to parliament, they vote on and they have a couple of couple of weeks to kind of figure it out and then what the what the date will be. Now, some of you listening might go, why the heck doesn't matter? Um, you know, who cares if a country doesn't or or even more, why why

would a country want to do that? Remember? Why? Well, one thing you have to understand is that for most of the countries around the world, they bring in an ort amount amount of income based off of remittances. And so people leave their country, they go work in another country, and they have to send money back home. And so that's what happens in ol Salvadore, what happens all over the place. Now, Tonga receives more income from remittances than

any other country in the world. So thirty percent of household income in Tonga is made up of remittances, which a lot. But the problem is is that those remittances typically sent over Western Union things like that, they're very expensive to use. As a matter of fact, depending on the amount you're sending, you could spend anywhere up to thirty percent of the amount of money sent is spent

in fees. And so if if a thirty percent of your income or percent of the income and in the country of Tonga is coming from remittances and thirty percent of that it's fees, that's a lot of money. That's pretty bad. And by sending it via bitcoin, you can do it for free for free. So imagine if you personally were able to increase your income by thirty percent, what that would do to you. And remember, um, about thirty percent of household income is made of remittances, and

they can say thirty percent on fees. That is a massive, massive movement. According to the World Bank, Tonga's remittance as a percentage of gross domestic product is substantially higher than Alsavador at thirty nine percent versus respectively. So um, that's another Oh and it's a smartphone penetration exceeds nine in Tonga, so they're ready to go. Um, it's another shoot to drop game theories and play. Um. Who's gonna be the next country? I'm interested to find out. I can't wait

to see. Like you listening to the Mark Moa Show, We're talking about bitcoin. We're talking about the decentralized movement that's sweeping the world right now, talking about the second country that just is working to adopt it as legal currency. I have even more news coming. Do not go. We're back, all right, welcome back. You are listening to the Mark ma Show and we are talking about bitcoin. What else

would I be talking about. We're talking about bitcoin. We're talking about this decentralized revolution that is sweeping in the world, and we're talking about the most important things with bitcoin, which are not the price, but are rather we're talking about the network growth and the development that's happening on the network. Those are the two things that you should be looking at when you're looking at new technologies. The price will get there, all right, the price will take

care of its off. But is the network growing and um is it developing and so um. Before the break, I was talking about how the second country in the world now is working on adopting bitcoin is legal tender. UM. That's the nation of Tonga. I won't go back through that, but that is big news. Not so much because Tonga is such a big country, UM, more because it's another country. So it's not the size of the country, it's that

it is another country. And UM game theory is in order, and I think, you know, a second country does it, and then a third country and fourth the next thing you know, it starts happening pretty pretty quickly. So that was one big news UM. And there's lots of other things that are being done to to continue to push this UM. I saw it just here in the United States a matter of fact, and you might be interested in this actually, so here in the United States, we

saw in Northwest Arkansas. Northwest Arkansas is offering ten thousand dollars in bitcoin and a free bike if you relocate there. Wow. So Northwest Arkansas hopes to lure remote tech workers and entrepreneurs to the region by offering them ten thousand dollars worth of bitcoin and a bicycle. Northwest Arkansas is one of the fastest growing regions in the country and we're now seeing more explosive growth in our tech sector, um,

which is pretty cool. Um. So, you know one thing that's that's going to reshape the world it already is, is that the Internet has changed the way that we work, um. And not only do the way that we work, but where we work. And so you know, you used to have to work if you wanted to make money, had to be in the United States, that's where all the that's where all the whole economy was, and not just in the United Station to be in a city, right, so had to be in a big city, that's where

all the jobs were. But the Internet has started to break that apart, and now you can basically live anywhere you want as long as you have internet, internet connection and of course the internet. I'm sorry the pandemic really really kick that into high gear. Um. A lot of people who thought they could never work online were now forced to and they found out they like it. A lot of businesses who thought they could never have a remote staff are forced to and they found out they

like it as well. And so UM it really really really kick started this. And what we're seeing is is we're going to see this massive trend, this massive reshuffle of not just the country, but the world. So all through the United States we have people moving to Idaho or Montana or Wyoming or Kansas or wherever they want because now, for the first time ever, people can actually live where they want to live, as opposed to living

where they have to work. And so this doesn't just doesn't just change the way the United States is made up. This changes the way the world is made up, because now I don't just have to live in United States. I can go live in El Salvador, I can go live in Tonga, or I can go live in Mexico or wherever I want to. UM. I know, I have a little brother. He recently moved to um Missouri from California. And the reason why is because one he works on

the Internet. It doesn't matter where he lives. And too, he was able to buy I think a four bedroom house on like a really big lot with a big grassy yard. And his payment is five hundred dollars a month, five hundred bucks a month. And he has all the same things. He has all the you know, he has a gym, and he has the restaurants, and he has the stores. He's everything. He's just a Missouri But what does he care because he just all he needs is access to the internet, and he's fine. And so a

lot of people should actually probably think about this. And so anyway, this goes back to Arkansas. UM, the expanded incentive offer Bitcoin and a bike not only embraces the growing trend towards the use of cryptocurrency as a payment option by employers, but also helps increase our pipeline of talent to benefit tech employers, startups, cities, local businesses, and

the region overall. End quote. So I mean again, we can see how cities like Miami are adopting like this bitcoin standard and saying that people could pay their fees in bitcoin. Um, the city managers are asking to get paid in bitcoin. And now we have cities not just saying you can pay your fees in bitcoin, but they're literally incentivizing people to move into the area by giving them big coin. Um. It says here, if you're interested, you get a street or a mountain bike to explore

the outdoors. And it says potential transplants must be able to relocate to northwest Arkansas within six months of acceptance, sign a lease for local housing or purchase a house, be at least twenty four years old, and have a full time remote employment. So if you work on the internet and you can live anywhere you want, you can

move to Arkansas and get ten thousand dollars worth a bitcoin. Now, if bitcoin does what we think you can do in five years, that could be a lot of money and you could be living a good life in uh in Arkansas. So interesting. Again, the network is growing. I like that one. We also saw, you know, a lot of people talking about last week. I talked about fund fear, uncertainty, and doubt,

all these reasons why people don't like bitcoin. Um, it's too expensive, the government's gonna make it illegal, it's too slow, on and on and on, and there's no shortage of those I shot down I don't know ten of them last week I think, go back and check out that past issue. You can just search Mark Moss I Heart

or Mark Moss podcast and you'll find that. UM. But one of the things that I do is I try to always keep in mind that I'm not the smartest person in the world, and so what I want to do is I want to look at and see what other smart people are doing. A matter of fact, I don't want to be the smartest person in in a deal in a room, and so I've been doing private deal investing for a really long time most of my career.

I think, I UM. When I look at these private deals, typically late stage venture or pre I p O. One of my things that I look at is who else is in on the deal? Are there other smart people in on the deal? And if so, that gives me a level of confidence that like, hey, I'm not I'm not I'm not alone on this. I'm not an idiot

like these other smart people like it as well. And so a lot of people don't like bitcoin, and they have their reasons why they doubt it, which is fine, and you should doubt it, but look at the smart people that are in on the deal. This week we found out another one there's lots and lots and lots of them. But this week we saw billionaire investor Bill Miller now has fifty percent, fifty percent of his personal wealth in bitcoin. Now I'm talking about a billionaire investor

of his personal wealth in bitcoin. Um and that's a lot, it says uh And And the reason why Bill Miller is famous is because he's been able to beat the SNP five index for a record breaking fifteen years in a row from two thousand five. That's pretty big deal. So typically you uh, let me, let me tell you how big of a deal that is. So this year two SPID is last year. Now smp FI broke records as one of the best years ever and out of all the top hedge funds in the in Wall Street,

only three of them able to outperform. Out of hundreds, only three were able to outperform what the SMP five under did. He did it for fifteen years in a row. It's a pretty big deal. Now, another caveat to that is that while only three Wall Street hedge funds were able to do that, there were thirty five members of Congress that we're able to do that. So three, only three, out of all the best hedge funds, of the smartest traders, smartest investors in the world, only three of them could

beat it. But thirty five congress people beat it. It's pretty interesting. It's almost like you would think they might have some insider information. But anyway, it's a different subject. Um. So anyways, Bill Miller, like I said, the only three people could beat it, he did it for fifteen years in a row. He's not an idiot. He's a pretty smart guy. And he says that he's so bullish on bitcoin um and his investments tied closely to the crypto

represent fifty percent of his personal assets. Um, I'm gonna tell you about what he bought and what his recommendation is for you. So don't go away because you want to hear what his recommendation is for you in regards to the asset. You're listening to the markma Show. I'll be right back, all right, welcome back. You're listening to the Mark Moa Show, and we are talking about bitcoin. Of course, like you didn't know, we're talking about bitcoine.

We're talking about the decentralized revolution today. We're talking about right now some of the latest breaking news of the weekend, and I was talking about one of the one of the most successful investors in the world, um and what he's doing. His name is Bill Miller. And when I say one of the most successful investors in the world, he famously beat the SMP five index for fifteen years

in a row. And I was saying, how this, uh, the last year the markets were crazy, and of all the head funds all of Wall Street, there was only three. Out of hundreds and hundreds hundreds or however many, there are only three, we're able to beat the SPI dred. He did it for fifteen years in a row. So he's pretty smart. So no matter how smart you are in investing, you're probably not smarter than him. I'm not um, and so when I look at someone like him, I tend to listen. I tend to listen. And so um.

He said that he has fifty percent of his UM money into bitcoin now. But that doesn't mean that you should. Let's hear what he has to say here. So he said that, uh. He said that he had he started buying some early early on, but then he didn't buy any for a really long time until last year. He said. Last year, when he saw the price hit new highs and then it started to fall sharply. He thought that was a good time to buy the dip. That so what happens is, whenever the price makes to a whole

time my eyes, everybody wants to start buying. Friends I haven't talked to in years, all of a sudden start messaging me and saying should I buy? Should I buy? It was like, it's the top of the market. Uh, And they said should should I wait for a dip? And then as soon as the dip comes, nobody wants to buy. So bitcoin was at sixty nine thousand, now it's at whenever thousand, and people are afraid to buy. Everyone thinks they want to buy the dip until we're

in the dip. But that's exactly what he did. He saw, I want to hit new highs and then it started to fall sharply. He thought that was a good time to buy the dip, so he did. He started buying again at thirty thirty dollars after it had fallen off of the sixty high. He said the reason was that there were a lot more people using it, not to mention that venture capitalists and others were investing into it. Miller said he thinks bitcoin is best thought of as

a digital golden as. What he's saying that a store of value. Um and uh. He says that he's only recently allowed himself to be called a bitcoin bowl rather than just a bitcoin observer, because he feels that it's now developed into a game changing technology. So what I would ask you to do is whatever biases you have in your mind, just put those aside. Here's somebody who's very successful, and you can see his lineup, thinking, now, does this mean that you should put fifty of your

money into bitcoin like he did? No, it definitely doesn't. So let me explain what he says that you should do. So, he says, despite his own heavily concentrated position, Miller's advice for the average investor is to put only one percent of your net worth in bitcoin, reasoning that if you put one percent of your portfolio in it for diversification, even if it goes to zero, which I think is highly improbable. I'm reading his quote. Um, but of course

it's possible. You can always afford to lose one percent end quote. That's what he said. So you might have heard, you know, only invest what you're willing to lose kind of a thing. So he's like, hey, put one percent. If you lose one percent, you're not even gonna notice it, right, But if it goes up to where we think it is, that could be life changing. Now, Um, that's his advice. Of course, I am not giving you advice. This is

not financial advice. But he has of his of his portfolio in there, and so um, listen what he says, but also look at what he does and you make up your own mind. Think about the risk return profile for you. Now, a lot of people, myself included, don't really look at bitcoin as an investment. I look at it more of a savings So I'm not trying to put it in there to make a bunch of money. I'm trying to put in there to preserve a bunch

of money, to save a bunch of money. And so instead of putting money in there that you can afford to lose, I'm putting money in there that I can't afford to lose. It's a different way around. Um. He went on to say, quote, I think the average investor should ask himself or herself, what do you have in your portfolio that has that kind of track record. Number one is very, very underpenetrated. Can provide a service of insurance against financial catastrophe that no one else can provide

and can go up ten to fifty times. The answer is nothing end quote. That's what he said. I mean now I would say the same thing, but I'm reading to him n d M because he's one of the most successful investors in the world fifteen years beating the SP five. That's what he says. What do you have in your PORTFOLI that has that kind of track record. UM is very underpenetrated. Can provide a service of insurance

against financial catastrophe. Remember I was saying, UM, you can look about look at it like putting money and you can afford to lose, or I say put money in I can't afford to lose. And that's what he says, right. UM is a service or insurance against finance catastrophe, and it can go up ten to fifty times, So you can be an investment or insurance. It can be both. UM. I like those odds. I like those odds a lot. What do you think. I love it when you guys

send me tweets. I'm pretty active on Twitter. The number one Mark Moss. That's just the number one, the new Numero Uno one. Mark Moss sent me a message tell me you heard me on the radio. I'd love to hear from you. I love to you answer your questions live. UM Another another big piece of news that broke this week that I'm actually super excited for, or I think

is amazing. I've talked about a couple of times before on the show, and that is the Twitter um founder and CEO Jack Dorsey, who's no longer the CEO of Twitter anymore. That's a few weeks ago. UM. Dorsey has left um Twitter, and he's also still running Square, which is the payment company, and he left He's He's told us, he's famously told us that he left Twitter to focus on bitcoin. That's his goal. I want to focus on bitcoin.

And not only that. He UM changed the name of Square to block because he wants to focus on bitcoin. And uh, he just said that he thinks there's nothing more important in his life to work on than bitcoin. And again back to UM. Smarter people than me. UM. We have Bill Bill Miller, one of the best investors in the world, and now we have Jack Dorsey, one of the best creators. Wealth creators in the world. And

when they say these things, I tend to listen. And um, he has been putting his money where his mouth is, so to speak. And um, he has been building up bitcoin services. And one of the things he did this week, which I thought was amazing, is that he started a fund to defend bitcoin developers. So remember, what are the two things were supposed to be looking at. Repeat them back to me. They are one growth of the networking

to development on the network. And the problem is is that we have a bunch of developers, bitcoin developers that have been getting attacked. There's some jerk, we'll call him that for the radio friendly people out there. Um, this this jerk, Craig Right, pretends that he is, uh, he's the real Satoshi Nakamoto. Of course he's got no evidence to back this up, but he's got a bunch of money and he's happy to file lawsuits. And so, um, this guy, Craig Right has been starting to file a

bunch of lawsuits against various bitcoin developers. And uh. The problem is, these bitcoin developers don't make a bunch of money and they can't afford a bunch of lawsuits. And so a lot of the developers have been disappearing. They've been going into hiding. They don't want to get sued, they don't have the money for it. And remember, the growth of the network depends on the development happening, and

if the developers disappeared, what happens to the network. And so Jack Dorsey stepped up and created a legal defense fund for bitcoin developers as the community faces quote multifront litigation and threats that have forced some with legal support to capitulate end quote. And so Jack Dorsey, along with chain code Labs co founder Alex Marcos and academic Martin White Uh founded this Bitcoin Defense Fund Board to fund to fund these developers and help them fight back against

these legal bills. Which is amazing because, as I said, we want to continue to have the development and we need to keep them on board. I love to see someone like Dorsey leave uh you know, traditional mainstream social media whatever, and go work on something he finds to be much more powerful, much more important. Really a lesson for all of us. I say, over and over and over, build the world that we want, and so too many of us are thinking that we're victims in this world

and we don't like the way things are going. I don't like the medical system, I don't like the education system, I don't like the um financial system, whatever it is. But instead of focusing on the bad things that you don't want, focus on what you do want. Go build the world that you want, following an example of Jack Dorsey, and it starts with the money, unlocking the money. UM. When I come back, I have some more late breaking news to keep you in the know. I'll be right

back with more. Don't go away. Hey everyone, welcome back. You were listening to the Markma Show. We're talking about bitcoin and we're talking about this decentralized revolution and I'm talking about the latest breaking news of the weekend. Now, one of the most important things in life is just your education. I mean it's it's really at the foundation of everything. UM. You die it UM how to get ahead and business, how to invest, how to get along

with other people, how to manage your time. It all comes down to education. And of course where you focus that education on. And bitcoin is UM. There's a technological revolution. It's the largest shift in humanity that will witness in our lifetimes. And with that shift, I mean, it's going to change the world. It also presents massive opportunity with the wealth transfer that's happening, has already begun happening and

will continue happening. And in order to take advantage of that, in order to be a positioned properly, you have to have the education for that. And so UM, I'm trying to bring you the latest up to date information for that. Now, as I say each and every week, it's not the price that we should be paying attention to on brand new technology. We want to focus on the growth of the network and we also want to focus on the focus on the development. So that's what we talked about.

But some of the other things that we also have to know is why why do we need that, Why is it important? Why do I care about it? And things like that. Now, Um, this week we saw record breaking inflation. We saw the cp I, the cp LIE as I like to call it, but the CPI which is a consumer price inflation or index, I should say, and basically what it does is the FED um, the BLS actually the Bureau Liiver Statistics gets a basket of

goods and they price them. So let's say you go grocery shopping and you put a little bit of steak and you put a little bit of milk, and you put a little bit of cheese, and you put a little bit of whatever, and then they measure how much that costs. And then throughout time they track that same basket. A couple a couple of problems with that. One is that they change the basket all the time. They're constantly

changing the basket. That's a big problem. And of course they change the basket to show the number that they want to show. So, for example, they do something called the substitution rule. So, UM, steak has become too expensive, so now we're gonna take steak out. Let's put hamburger meat in instead. So you can still buy quote unquote meat, although it used to be prime rib or filet, and now you get hamburger meat. Um, or why don't we just get um hamburger meat out and let's just put

ground turkey meat in instead. And so they do this substitution thing, and so that's a big scam. Another thing that they do is um they don't look at the price of the home. For example, they use something called like rent equivalence, and so UM homes went, you know up. But they say, well, but but it's not the price of the home. It's how much the homeowner could rent the price of the rent the home out for and

so use this like rent equivalence. Now, if we go back to the way they measured CPI back in the eighties, so there was a big change in the nineteen eighties, there's a big change in the nine nineties as well. But they told us that the inflation is seven percent, which is is the highest been in four decades and

really it's the highest ever. Um. But if we went back and we readjusted it for the way they used to calculate back, remember how they changed the basket to go back to the original basket from about we'd see that we're well over fifteen with inflation. But again, uh, as I went through UH a few hours ago talking about inflation can't really be measured by a number. So the price of homes on Lake Travis outside of Austin have gone up over a So how does that pent

or the seven percent inflation fit that? Um, it doesn't right stakes go, used cars have gone up, I think, Um, the average meeting home in the US has gone up. So where do they come up with seven percent? Like I was, inflation in seven percent. When all the things I'm buying gas from my truck, steak for my grill, and a new house for my family, all the things I'm buying went up all over thirty percent? Are they telling me it went up by seven percent? And you

get kind of the absurdity of that. Um. One thing that back to kind of this the cp I lie. This kind of the CPI basket is that they have this like rent equivalence kind of thing as I was talking about, And one of the things that they get you on is not the price of the home, but it's the rent, right, and so what it does in

this basket it has certain waiting. So it says like you should spend the average per to spend twenty of their income towards housing, which I don't know where they came over that because it's probably way higher than that up to but basically they um, they wait the owner's equivalent of rent, that's what it's called. It as twenty five percent of the core CPI waiting. That's a lot of things to say there. So first of all, what

is core CPI. So on the CPI they remove food and energy, which is funny because that's the two things that we have to live without energy and food? How do we live? We don't. But they remove those because of course they're going up way too high. Um. So that's what the core is. The core is removing those things.

But anyway, so the owner's equivalent of rent, not the cost of the home, but how much they can rent nowt for is of the waiting, and that core waiting only increased to three point eight percent in January of two from two point four percent for all. Now does anybody think, does anybody think that the rents of homes only went up by two or three percent? Yeah? I didn't think so. As a matter of fact, it depends, right, It depends on where you live. So some areas went

up way faster than others. I can tell you where I've been living in last year in Puerto Rico. Most of the rent prices went up a hundred percent um. Some areas saw sixties sevent Some areas I would probably I don't know, I don't have the data in front of me, but I would imagine the lowest was probably ten percent. I think on average it was like seventeen percent per zillo. And so if we adjusted it for what the actual real increase of rent was and adjusted

it for the waiting then inflate. Just from that alone, inflation CPIA goes over to fifteen percent, more than double what they're telling this. Now, why am I telling you this when I'm here talking about bitcoin, Well, because inflation is the increase of the money supply. The money supplies what increases or inflates in volume more money, not prices.

Prices don't inflate. There's not more volume in the prices, and so when the FED prints more money, it starts to cause all these problems and prices are going up. And this is exactly what bitcoin fixes. So I hear all this breaking news about the economy and about inflation and the FEDS trying to raise rates. The Fed, the

Central Bank is trying to artificially adjust the rates. That's what they're talking about, artificial adjust rates, artificially adjust the money supply, and they're trying to do both of those. Those are two different levers, two different levers to adjust this inflation number, which is a lie. Um, we're really over we're probably even hiring that. It depends on what

your basket of goods. If we both you and I went to the grocery store, and we would probably end up with different baskets full of goods, right, I'd buy different things than new so then my inflation would be different than yours. So it's just insane to try to put a single number on this um. But the but the key is is that it's the FED adjusting the monetary supply and the interest rates that caused the inflation

to go up and down. And so if we can go to bitcoin with a fixed monetary supply that can't be increased or decreased, then it can fix this inflation problem that we're having because bitcoin has a fixed supply, so instead of being able to increase the money supply and decrease the money so that by bitcoin is fixed, there will never be more than twenty one million bitcoin.

That's it. At this time. There's been about give or take about eighteen and a half, nineteen million have been brought into existence, but the cap will never be more than twenty one million. Now, this doesn't matter which political parties in office or which agenda is. There's written in code, and we should get to that point of twenty one million by about a year two thousand and one and forty. So still quite a ways a way, about a hundred twenty years away before we have to worry about that.

But because it can't be artificially increased, because it has that limited supply cap. That means instead of the price of goods and services going up, the value would accrue to the money, and the money would allow us to buy more goods and services in the future. Now, a lot of people say, but mark, Mark, Mark, Mark, Mark, don't we need an expanding monetary supply. Don't we need inflation? Well, the banks have certainly told you that, so you keep voting for it. But let me just ask you a

simple question. I'll answer a question with a question, would you rather Would you rather your money buy you more goods and services in the future or less? Well, I think the easy answer is, of course, you'd rather your money buy you more goods and services in the future. And so that's why you do not want an inflating currency. Inflation means that your goods and services will cost you

more money in the future. And I know you're going, yeah, but don't make more money, not when adjusted for inflation. That's not been the case since the nineteen seventy I don't think it'll magically be that way. Now, anyway, you're listening to the Mark mo Show, we're talking about bitcoin. I was reading to you the latest breaking news of the weekend so you can be up to date, so you know that the network is growing, the development is growing, so you can stay in the position, you can be

in the bitcoin position. Thanks so much for listening.